Daily Report September 14th Thursday

Nifty (3454) SUPPORT-3435-3416-3388 RESISTANCE-3478-3529-3564 Nifty range 3435-3478 and above 3478 if the markets trades for a long time it would reach 3535 with a great speed as that would be a triangle breakout. Nifty has formed a inverse head and shoulder in 1hour graph and if markets crosses 3490 it would target 3600 above soon and this formation get negated below 3430. . (Markets trading above 3478 would bring in fresh buying more short covering 3490-3500 would be broken with ease).TOP 5GAINERS=JETAIRWAYS-ORIENTBANK-BHARTIATL-ICICIBANK-TATAPOWER
TOP5LOSER= -HINDALCO-HCLTECH-GAIL. P/E=19.81 p/b=4.50 adv=47 dec=3 NSE adv: 752 dec: 166 -vol-rs.7473crs

Sensex (11893) SUPPORT-11803-11726-11654 RESISTANCE-12008-12117-12254 Sensex gap up and this is a fresh gap created after 2gaps has been closed and this can lead a rally up till previous high also so one can use the gap as stop loss and go long till previous all time high. Till markets stays above 11800 sensex would be very bullish and 12000 above can be tested.
8dma=11828 13dma=11781 21dma=11670 34dma=11390 55dma=11049 OPEN=11723 HIGH=11938 LOW=11723 BSE adv: 1702 dec: 812 -vol-rs.3969crs
Fiis seller rs.120crs & Mutual funds buyer rs.112 on Tuesday, Fiis buyer rs.1465crs in Sep month and buyer rs.18854Crs in 2006, mutual fund buyer rs.121crs in Sep month. F&O DATA Fiis buy rs.716crs in nifty future and sell rs.75crs in stock future on 13th September and provisional Fiis buy in cash rs.265crs source NSE website

Day That Ended: Markets opened very bullish and maintained that movementum till fag end profit booking and with BANKS-TECH-AUTO-PSU gaining and METALS is the only loser and GOLD graph also suggest it can come down like crude or even more. PM visit and agreement between INDIA-BRAZIL-SOUTHAFRICA (IBSA) would boost trade between these countries and few PSU seem to be the first beneficiary BEML-ONGC. International markets U.S closed with gains & Indian ADRs closed very positive EURO markets closed with gains ASIAN market opened very positive & crude 64.42 Dollars.

Outlook for Thursday: Breakout above Wednesday high if markets can trade for first 1hour, this rally would be broader now and METALS would be one sector which can miss out and we don’t have a pure crude company and ONGC profit doesn’t get effected till crude goes below 45$ as subsidiary sharing mechanism is kept in such a way as per reports. Infosys Technologies is set to enter the Nasdaq-100 when the index comes up for review in December (BS) and this is real boost for the stock. RAYMOND-EMCO-TATACHEM would be stocks where one can accumulate in dips.

STOCK TECK view: http://prabhakar-views.blogspot.com MICROINK: buy rs.300-302 target rs.325-330 stop loss rs.295 4-5days trade. RANBAXY: Stock is at very crucial levels rs.406as stop loss one can buy the stock around rs.410-412 it would face stiff resistance at rs.420-422 once that level is crossed it would be a major breakout and would target rs.460-470 levels. TATACHEM long term investor can buy slowly 12-18 month target can be double from here 10year charts on monthly scale is showing cup & handle as well as Inverse head & shoulder formation.

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Disclaimer: These recommendations are based on the theory of technical analysis and personal observations. This does not claim for profit. I am not responsible for any losses made by traders. It is only the outlook of the market with reference to its previous performance. You are advised to take your position with your sense and judgment. I am trying to consider the fundamental validity of stocks as far as possible, but demand and supply affects it with vision variations.

http://economictimes.indiatimes.com/articleshow/1988237.cms Dr Reddy's eyes firms in Italy, Spain on expansion.
http://www.financialexpress.com/fe_full_story.php?content_id=140327 Gold may cross $700 by year-end